Mexico: Remittances grow at a softer pace in January
Remittances summed USD 3.9 billion in January, representing a 19.6% year-on-year surge. This follows December’s 30.2% year-on-year increase, and was likely aided by a strong U.S. labor market. On a cumulative basis up to January, remittances amounted to USD 52.2 billion, above the USD 51.6 billion recorded in December. January’s 12-month moving average signaled a 26.6% rise from a year earlier (December: +27.0% year-on-year).